Phone hacking

A financial products distributor fell victim to phone hacking, resulting in tens of thousands of euros in losses in the space of a weekend.

The policyholder’s telephone operator alerted the distributor that its usual telephone consumption level had been exceeded, and that hacking was presumed to be to blame. The policyholder implemented a few emergency measures that the operator had recommended. The distributor then called in GM Consultant’s cyber risk expert to make sure that protective measures in place were in line with the telephone system manufacturer’s recommendations.

GM Consultant therefore performed an audit to determine if the telephone system was configured in accordance with the manufacturer’s recommendations. The audit identified security shortcomings that had to be corrected in order to attain the security level recommended by the manufacturer.